Upcoming Trends And Drivers Of The Piano Sales Market

The Business Research Company's Piano Sales Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033

LONDON, GREATER LONDON, UK, June 28, 2024 /EINPresswire.com/ -- The global piano sales market is projected to grow from $2.26 billion in 2023 to $2.32 billion in 2024, at a CAGR of 2.7%. Despite economic fluctuations and changing demographics, the market is anticipated to reach $2.62 billion by 2028, driven by the increasing popularity of live performances and a growing demand for high-quality musical instruments.

Growing Popularity of Live Performances Drives Market Growth
The growing popularity of live performances is a significant factor contributing to the growth of the piano sales market. Live performances, which provide authentic and immersive entertainment experiences, are in high demand in today's digitally saturated world. Pianos play a crucial role in enhancing the quality and diversity of these performances, offering musicians high-quality instruments tailored to their specific needs and preferences.
For instance, in February 2024, Live Nation, a leading live entertainment company, reported that its concert business generated revenues of $18.7 billion, up 39% year on year, with attendance rising 20% and over 145 million fans attending over 50,000 events in 2023. This surge in live performances is expected to drive the demand for pianos further, contributing to market growth.

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Key Players and Market Trends
Major companies operating in the piano sales market include Kawai Musical Instruments Manufacturing Co Ltd.; Yamaha Corporation; Casio Computer Co Ltd; Sweetwater Sound Inc.; Roland Corporation; Steinway Musical Instruments; Thomann GmbH; Samick Musical Instruments Co Ltd; Petrof Piano a.s.; Guangzhou Pearl River Piano; Hailun Piano Co Ltd; Andertons Music Co; Long & McQuade Limited; C. Bechstein Pianoforte AG; Kraft Music Ltd; Baldwin Piano Inc; Mason And Hamlin Company; Nord Keyboards AB; Normans Musical Instruments Ltd; Allegro Music Ltd; Schimmel Pianos GmbH; Mendelssohn Piano (Shanghai) Co., Ltd; Korg Inc; Kurzweil Music Systems; and Hyundai Development Company Young Chang.

Trends in the Piano Sales Market
Key trends in the forecast period include smart integration, compact designs, customization options, subscription models, and personalization. Companies are focusing on developing innovative products such as digital pianos to boost their market presence. For example, in January 2024, Casio Computer Co. Ltd. launched the CELVIANO digital piano AP-750, featuring the Grandphonic Sound System for an unprecedented level of natural authenticity and immersive performance experience.

Segments:
• Type: Grand Piano, Upright Piano
• Distribution Channel: Offline, Online
• Application: Performance, Learning And Teaching, Entertainment

Geographical Insights: Asia-Pacific Leading the Market
Asia-Pacific was the largest region in the piano sales market in 2023 and is expected to maintain its dominance. However, North America is projected to be the fastest-growing region during the forecast period. The comprehensive report provides detailed insights into regional dynamics, market trends, and growth opportunities.

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Piano Sales Global Market Report 2024 from TBRC covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Piano Sales Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on piano sales market size, piano sales market drivers and trends, piano sales market major players, competitors' revenues, market positioning, and market growth across geographies. The piano sales market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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